News

TRM gets credit ratings from Moody's, S&P

November 1, 2004

PORTLAND, Ore. - TRM Corporation has received credit ratings from both Standard & Poor's and Moody's. The ratings apply to the $150 million in senior secured bank facilities which TRM expects to use in part to fund its pending acquisition of the eFunds ATM portfolio.

The acquisition is expected to close in 2004's fourth quarter, according to a news release.

Moody's has assigned to TRM a B2 Senior Secured Bank Credit Facility Rating. Standard and Poor's assigned a B+ rating to both a corporate credit and senior secured debt facility.

The secured bank facilities will be used to replace TRM's existing credit facility, fund the eFunds acquisition and provide additional working capital.